Binary.com daily market Report Nov 14th 2016: Trump Rally Extends

• This morning, markets have continued their election rally, a move that may be an apparent endorsement of Trump, or simply relief that the uncertainty is over (at least the choice of who). The US dollar index is on the rise, while the USD/JPY continues to out perform.

• Meanwhile, dollar pairs are on the back foot as the dollar maintains control. The pound has out performed the euro since the election on hopes for a trans-Atlantic trade deal.

• The Australian dollar continues to struggle though as commodities slips back.

• Meanwhile, gold prices have continues to soften as demand for safe havens subsides.

Coming up today:

• Coming up today, ECB President Draghi speaks at 15.00.

Trade Idea:

• Oil prices have continued to slip back post-election and this is bad news for the beleaguered Canadian dollar.

• The USD/CAD has rallied this week, but there could be further upside from there.
• A good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.3600 in 14 days for a potential return of 129.9%.